Gold ends flat on lack of buying, silver recovers marginally

Gold prices ended flat at Rs 31,050 per 10gm in the national capital on Saturday on lack of buying at prevailing higher levels, while silver recovered by Rs 50 to Rs 58,650 per kg on some offtake by industrial units.

Traders said lack of buying support from retailers at prevailing higher levels mainly kept gold prices steady while some offtake by industrial units helped silver to recover.

On the domestic front, gold of 99.9 and 99.5% purity held steady at Rs 31,050 and Rs 30,850 per 10 gm, respectively. It had gained Rs 200 in last two sessions.

Sovereign also enquired around previous level of Rs 25,350 per piece of eight gram.

On the other hand, silver ready recovered by Rs 50 to Rs 58,650 per kg, but weekly-based delivery lost Rs 120 at Rs 58,160 per kg on lack of speculators support. Silver fell by Rs 200 on Friday.

Meanwhile, silver coins continued to be asked at last level of Rs 83,000 for buying and Rs 84,000 for selling of 100 pieces.